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Table 6 Rational expectations island model: GMM

From: Do carrier expectations indicate industry structure in container shipping? An econometric analysis

SeriesConstantGrowth Rate Market Level Import VolumeGrowth Rate Total Import ValueReal Price Bunker FuelShocksAdj R-SquaredF-Statistic
Full Sample N = 72
 All Trades0.040a (1.72)0.361a (1.81)−0.073 (− 0.56)−0.006 (− 0.49)−0.003 (−.091)0.162.23
 ETP0.022 (0.62)0.678b (2.56)−0.126 (− 0.60)−0.020 (− 1.00)0.006 (0.14)0.445.37c
 WTA−0.016 (− 0.56)0.247 (1.24)0.332b (1.96)0.030 (1.59)− 0.088b (− 2.40)0.416.26c
Pre-Block Exemption (WTA, N = 38)
 WTA0.039 (0.92)−0.068 (− 0.26)−0.221 (− 0.95)0.033 (− 0.80)−0.084b (− 2.05)0.191.01
Post-Block Exemption (WTA, N = 33)
 WTA−0.100b (− 2.20)0.197 (0.71)0.449b (2.08)0.067c (3.22)−0.087a (− 1.74)0.8321.66c
  1. aSignificant at the 10% level, bsignificant at the 5% level, csignificant at the 1% level